Mr. Staley handled JP Morgan's relationship with Epstein. Photo: Gina Moon
JP Morgan said Mr. Staley should be held liable for any damages. this is due to his ties to Epstein as he managed the bank's relationship with a pedophile financier during his time there.
Epstein was a JP Morgan client for 15 years until 2013, including the period after his child sex in 2008. guilty verdict.
Federal prosecutors charged Epstein with sex trafficking in 2019. He committed suicide in his prison cell in New York a month after his arrest.
The $290 million settlement, first reported by Bloomberg, after Deutsche Bank agreed to pay $75 million to settle a similar a lawsuit filed by Epstein's victims who also accused a German creditor of profiting from human trafficking for the purpose of sexually exploiting a deceased pedophile financier.
The bank, which took on Epstein as a client after JP Morgan cut ties with him, was accused of “[choosing] profit over following the law” and knowing it would “make millions of dollars in facilitating Epstein's sex trade.” exploitation.”
The ongoing USVI lawsuit against JP Morgan alleges that Epstein's behavior was so widely known at JP Morgan that senior bankers joked about his interest in young girls.
Mr. Staley had a personal relationship with Epstein when he was a bank customer and visited a deceased pedophile on his Caribbean island.
Unsealed emails allege that Mr. Staley drank white wine in a jacuzzi on a private Caribbean island Epstein while under house arrest for child sex crimes.
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Although both lawsuits mention Mr. Staley's relationship with a disgraced financier to prove that JP Morgan knew about sex trafficking, none of them name the former head of the bank as a defendant.
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